Saturday morning's strike of Hurricane Ike on the Texas coast caused insured property damage of anywhere from as low as $6 billion to as high as $18 billion, the three major catastrophe modelers estimate.
Hurricane Ike battered Galveston, Texas, and the surrounding cities along the state's barrier islands, leaving homes and businesses leveled along the coast. The storm came ashore as a strong Category 2 hurricane on the Saffir Simpson scale, with winds upward to 110 miles per hour at 2:10 a.m. EDT Saturday.
Flooding from the surging Gulf began on Friday as Ike moved onshore throughout the day. The storm has since swept north into the Midwest, bringing heavy rains and high winds into the region, and knocking out power to hundreds of thousands of homes and businesses–including National Underwriter's home-office facility in Erlanger, Ky.
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